Ready to save $10k-$50k in taxes this year? Book a call here:
► https://taxstrategy365.com/pod-app
In this episode, I walk you through the exact steps to correctly set up an LLC in any state—and avoid the critical mistakes that make over half of DIY LLCs essentially worthless. I cover the full 7-step process, the difference between proper and flimsy asset protection, and the most common compliance missteps investors make. Whether you’re a new real estate investor or an experienced business owner looking to tighten up your asset protection strategy, this episode gives you everything you need to know to get your LLC done right the first time.
Timestamps:
00:00:00 – Intro: The difference between real asset protection and useless paperwork
00:01:22 – Why LLCs offer protection, tax flexibility, and professionalism
00:02:17 – Step 1: Name availability and selecting a registered agent
00:02:57 – Step 2: Filing articles of organization and creating an operating agreement
00:04:39 – Why poorly written operating agreements can cause major legal issues
00:05:10 – Step 3: Getting an EIN and common filing mistakes to avoid
00:05:47 – Step 4: Opening a business bank account
00:06:41 – Step 5: State-specific requirements, annual filings, and fees
00:07:39 – High-cost vs. low-cost LLC states: what to expect
00:08:08 – Step 6: Common maintenance mistakes that lead to LLC “piercing”
00:08:39 – The importance of proper documentation across multiple LLCs
00:09:33 – Step 7: Updating records after life or business changes
00:10:32 – When to hire a professional vs. DIY
00:11:18 – Why professionals like doctors and CPAs often need PLLCs instead
00:12:30 – Final thoughts: When to DIY and when to seek expert guidance
Want me to answer your real estate questions? Come to my next Ask Me Anything Q&A:
► https://taxstrategy365.com/pod-ama
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*None of this is meant to be specific investment advice, it's for entertainment purposes only.
